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32 Cards in this Set
- Front
- Back
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promotion
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communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response
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promotional strategy
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a plan for the optimal use of the elements of promotion: advertising, PR, personal selling and sale promotion
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competitive advantage
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the unique set of features of a company and its products that are perceived by the target market as significant and superior to the competition
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promotional mix
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combo of promotional tools--advertising, PR, personal selling, sales promotion-- used to reach target mkt and fulfill orgs overall goals.
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advertising
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impersonal- one way mass communication about a product or org. that is paid for by a mktr
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public relations
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mktg function that evaluates public attitudes, identifies areas w/in the org the public may be interested in, and executes a program of action to earn public understanding and acceptance
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publicity
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public info about a company, product service or issue appearing in the mass media as a news item
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sales promo
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mktg activities-- other than personal selling, advertising and PR-- that stimulate consumer buying and dealer effectiveness
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personal selling
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a purchase situation involving a personal, paid-for communication bt two people in an attempt to influence e/o
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communication
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process by which meanings are exchanged or shared through a common set of symbols
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interpersonal communication
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direct, face to face, comm. bt two or more ppl
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mass communication
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communication of concepts or messages to large audiences
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sender
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the originator of the message in comm. process
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encoding
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conversion of a senders ideas and thought into a message usually in the form of words or signs
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channel
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a medium of comm-- such as voice, radio, newspaper-- for transmitting a message
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noise
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anything that interferes with, distorts, or slows down the transmission of info.
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receiver
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person who decodes a message
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decoding
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interpretation of the language and symbols sent by the source through a channel
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feedback
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receivers response to a message
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corporate blogs
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sponsored by a company or one of its brands and maintained by one or more of the companys employees
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noncorporate blogs
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independent _____s not associated with the marketing efforts of any particular company or brand
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AIDA concept
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a model that outlines the process for achieving promotional goals in terms of stages of consumer involvement with the message; ATTENTION, INTEREST, DESIRE, ACTION
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push strategy
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mktg strat that uses aggressive personal selling and trade advertising to convince a wholesaler or retailer to carry and sell particular merch.
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pull strategy
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a mktg strat that stimulates consumer demand to obtain product distribution
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integrated mktg communications (IMC)
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mktg managers carefully coordinate all promotional activities to ensure that all consumers see and hear one message
-> want to generate immediate sales response |
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Communication process
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1) Message starts thru organization or company
2) message is encoded using language/symbols familiar to intended receiver 3) message sent thru channel of comm. 4) Noise in transmission channel disorts intended message 5) Reception occurs if messages falls w/in receivers frame of reference 6) Receiver decodes message & provides feedback to source |
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fundamental goals of promotion
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To induce, modify, or reinforce behavior by informing, persuading and remiding
A) Informational promotion B) Persuasive promotion C) Reminder promotion |
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informational promotion
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explains the purpose and benefits of a G/S; typically used to increase demand for a general product category or to introduce a new G/S.
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persuasive promotion
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designed to stimulate a purchase or an actions; essential during the GROWTH stage of the PLC
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reminder promotion
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used to keep the product and brand name in the publics mind; used during MATURITY stage of PLC
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Components of promotions mix and the AIDA concept
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1) Advertising is a good tool when increasing awareness and knowledge of a G/S
2) Sales promotion is effective when consumers are at PURCHASE stage of decision-making process 3) Personal Selling is most effective in developing customer interest and desire |
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Factors that affect the promotional mix
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1) nature of product
2) product life-cycle stage a) different stages of PLC, use different promo elements 3) target market characteristics a)geographic location/brand loyalty 4) types of buying decision involved a)complex or routine? 5) availability of funds 6) feasibility of push/pull strats. a) push--> mktg manager use aggressive advertis & personal selling to wholesalers/retailers b) pull--> manager relies on aggressive mass promo to stimulate demand |
